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Rockspring buys logistics assets in France for EUR101m

LBR Staff Writer Published 19 April 2016

Rockspring Property Investment Managers has completed the acquisition of French logistics portfolio from Foncière des Régions for around €101m.

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The portfolio was acquired on behalf of TransEuropean VI LP (TEP VI or Fund).

The deal expands the Rockspring's French logistics portfolio by more than €300m and follows the acquisition of French logistics assets for the Fund's predecessor, TransEuropean V.

Situated along France's north / south logistics corridor, the portfolio includes four modern logistics assets with 214,597m² of space across eight buildings.

The assets are located in four local sub markets, including Dunkirk, Chalon-sur-Saône, Salon-de-Provence and Bollène.

They have been leased to ten international tenants, comprising of DHL, Amazon, Honeywell, Rhenus Logistics and Celio Logistique.

TEP VI fund director and partner Paul Hampton said: "The successful close of this acquisition so early on in the Fund's life is a demonstration of our sourcing and deal-making ability, and it gives us good momentum as we head into the second quarter.

"It complements the transactions we have already done in Geneva and London and also provides our Paris management team with a number of value creation angles to explore."


Image: Rockspring has purchased four modern logistics assets in France. Photo: courtesy of Rockspring Property Investment Managers LLP.